WTI Crude Oil, Technical Analysis – H1
WTI crude oil has an unfilled gap above in the $85 per barrel area. However, any discussion of buyers being ready to close this gap can only begin after the price firmly consolidates above $79.00.
WTI crude oil has an unfilled gap above in the $85 per barrel area. However, any discussion of buyers being ready to close this gap can only begin after the price firmly consolidates above $79.00.
The pair is in the final phase of its ascending technical correction. The key supply zone stands at 160.55.
The pair appears to be in the early stages of developing a downside reversal signal from the 215.15 zone.
Bitcoin predictably reversed lower yesterday after testing the strong pivot zone around $67,400. Bears have now also formed a more local reversal on the hourly timeframe.
The euro has likely completed its technical pullback, reaching the confluence zone of the sloping and horizontal PPZ around 1.1580.
Spot gold maintains its recovery momentum, pushing up to $4,317 per ounce as a sharp short-covering rally erases a portion of recent losses.
Brent crude continues its steep descent, trading down at $83.59 per barrel as global energy markets aggressively price in rapid diplomatic breakthroughs between Washington and Tehran.
Silver opened the week with a gap. After the current upswing reaches 72,800, a technical correction is expected to fill the gap.
The pair continues to face the threat of a substantial decline. A “Double Top” pattern has formed, partially confirmed by bearish momentum.
Bitcoin is receiving its share of investor optimism amid positive news from the Middle East. However, the upside potential at this stage appears limited.
Bulls are aggressively challenging the descending structure, which is now in a clear phase of potential breakdown.
Natural gas opened with a gap down and tested the demand zone at 3,070, where a bullish market reversal signal had previously formed.
Spot gold staged a sharp technical rebound to trade at $4,306 per ounce, recovering quickly after a heavy capitulation cycle recently dragged bullion down to a six-month low in the $4,000 zone.
Brent crude futures experienced a structural shift over the last 24 hours, collapsing by more than 4% to press a multi-month low of $83.05 per barrel.
The only major liquidity pool yet to be swept remains in the 159.45 area, making it a likely downside target over time.